China stock indexes post biggest weekly gains in 3 months; financials jump
SHANGHAI, March 20 (Reuters) - China stocks rebounded on Friday afternoon from a lacklustre morning, led by financial shares, which analysts expect to benefit from increasing bullishness about mainland markets.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 1.4 percent, to 3,892.57, while the Shanghai Composite Index gained 1.0 percent, to 3,617.32 points.
For the week, the CSI300 rose 7.6 percent while SSEC was up 7.25 pct, their biggest weekly gains in three months.
The CSI300 Financials subindex jumped nearly 3 percent, with brokerages CITIC Securities, China Merchants Securities and Western Securities all up more than 8 percent.
Analysts attributed the gains in part to signs of resurgent trading volumes and margin financing, and to expectations of further monetary easing.
Among the most active stocks in Shanghai were Bank of China , up 2.6 percent to 4.38 yuan; Agricultural Bank of China, up 2.0 percent to 3.55 yuan and China Railway Group, up 3.2 percent to 10.32 yuan.
In Shenzhen, BOE Technology, up 2.9 percent to 3.94 yuan; TCL Corp, up 1.0 percent to 5.89 yuan and Shenwan Hongyuan, up 4.5 percent to 17.95 yuan were among the most actively traded.
Total volume of A shares traded in Shanghai was 51.5 billion shares, while Shenzhen volume was 29.7 billion shares. (Reporting by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)
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